Take advantage of taxadvantaged accounts from "summary" of The Simple Path to Wealth by Jl Collins
When it comes to investing, one of the smartest moves you can make is to utilize tax-advantaged accounts. These accounts offer significant tax benefits that can help you grow your wealth more efficiently over time. By taking advantage of these accounts, you can reduce your tax liability and keep more of your hard-earned money working for you. One of the most common types of tax-advantaged accounts is a 401(k) or similar employer-sponsored retirement plan. These accounts allow you to contribute pre-tax dollars, which means you can lower your taxable income in the current year. Additionally, any investment gains within the account are tax-deferred, meaning you won't pay taxes on them until you withdra...
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